The KRN Heat Exchanger IPO is a Rs 341.95 crore book building offering. 1.55 billion shares are being issued in a completely new issue. On September 25, 2024, the KRN Heat Exchanger IPO will begin, and it will end on September 27, 2024. The KRN Heat Exchanger IPO allocation is set to conclude on Monday, September 30, 2024. The BSE and NSE will list the KRN Heat Exchanger Initial Public Offering (IPO), with a provisional listing date of Thursday, October 3, 2024. The IPO pricing range for KRN Heat Exchangers is 209–220 EUR per share. 65 shares is the minimum lot size required for application. Retail investors must make a minimum investment of 14,300 EUR. For sNII, 14 lots (910 shares) totaling 200,200 EUR are the minimum lot size, and for the minimum lot size 70 lots (4,550 shares) totaling 1,001,000 EUR are allocated to bNII. Bigshare Services Pvt Ltd is the registrar for the KRN Heat Exchangers IPO, while Holani Consultants Private Limited is the primary bookrunner. Refer to KRN Heat Exchangers IPO RHP for additional details.
KRN Heat Exchanger IPO Details:
| IPO Date | 25 September, 2024 to September 27, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹209 to ₹220 per share |
| Lot Size | 65 Shares |
| Total Issue Size | 15,543,000 shares (aggregating up to ₹341.95 Cr) |
| Fresh Issue | 15,543,000 shares(aggregating up to ₹341.95 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE,NSE |
| Share holding pre issue | 43,999,980 |
| Share holding post issue | 59,542,980 |
KRN Heat Exchanger IPO Timeline (Tentative Schedule)
September 25, 2024, is the opening day of the KRN Heat Exchanger IPO, and it ends on September 27, 2024.
| IPO Open Date | Wednesday,25 September, 2024 |
| Tuesday, 1 October, 2024 | Friday, 27 September 2024 |
| Basis of Allotment | Monday, 30 September 2024 |
| Initiation of Refunds | Tuesday, 1 October, 2024 |
| Credit of Shares to Demat | Tuesday, 1 October , 2024 |
| Listing Date | Thursday, 3 October, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 27, 2024 |
KRN Heat Exchanger IPO Reservation-
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% |
| Retail Shares Offered | Not less than 35% |
| NII (HNI) Share Offered | Not less than 15% |
KRN Heat Exchanger IPO Lot Size-
A minimum of 65 shares, as well as multiples of those shares, are up for bid. The minimum and maximum share and amount of investments made by HNIs and retail investors are shown in the table below.
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 65 | ₹14,300 |
| Retail (Max) | 13 | 845 | ₹185,900 |
| HNI (Min) | 14 | 910 | ₹200,200 |
| S-HNI (Max) | 69 | 4,485 | ₹986,700 |
| B-HNI (Min) | 70 | 4,550 | ₹1,001,000 |
KRN Heat Exchanger IPO Promoter Holding-
Santosh Kumar Yadav, Anju Devi and Manohar Lal.
| Share Holding Pre Issue | 94.39% |
| Share Holding Post Issue | – |
KRN Heat Exchanger IPO Anchor Investors Details
| Bid Date | 20, October, 2024 |
| Shares Offered | 9,562,500 |
| Anchor Portion Size (In Cr.) | 122.40 |
| Anchor lock-in period end date for 50% shares (30 Days) | 20,October, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | 19, December, 2024 |
About KRN Heat Exchanger –
An industry leader in the production of finned and tube heat exchangers is KRN Heat Exchanger and Refrigeration Ltd. The company uses copper and aluminum fins and copper tubes to make heat exchangers, water, condenser, and evaporator coils. It produces heat-exchanger tubes in diameters of 5 mm, 7 mm, 9.52 mm, 12.7 mm, and 15.88 mm, among other shapes and sizes. The Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R) industries employ all of the items that are offered. Reputable customers of the business include Frigel Intelligent Cooling Systems India Pvt Ltd, Kirloskar Chillers Private Ltd, Daikin Airconditioning India Pvt Ltd, Schnieder Electric IT Business India Pvt Ltd, Blue Star Ltd, and Climaventa Climate Technologies Pvt Ltd. Additionally, the company exports its goods to the United Arab Emirates, the United States, Italy,Saudi Arabia, Norway, Germany, Czech Republic, and United Kingdom. Situated in Neemrana, Rajasthan, the production plant occupies a total area of 7,800 square meters. The business makes use of the newest equipment for producing coils, including vertical expanders, fin presses, CNC tube benders, and hairpin benders.
Company Financial –
KRN Heat Exchanger and Refrigeration Limited Financial Information (Restated Consolidated)
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 258.36 | ||
| Revenue | 30,828.31 | 24,748.08 | 15,611.46 |
| Profit After Tax | 3,906.86 | 3,231.35 | 1,059.04 |
| Net Worth | 13,164.71 | 5,957.01 | 2,553.15 |
| Reserves and Surplus | – | – | – |
| Total Borrowing | 5,969.19- | 3,664.43 | 2,212.21 |
| Amount in ₹ Crore | |||
Objects of the Issue( KRN Heat Exchanger IPO)
The fresh issue’s net proceeds would be invested in KRN HVAC Products Pvt Ltd, a wholly owned subsidiary, in order to establish a new manufacturing plant in Neemrana, Alwar, Rajasthan. for overall business objectives.
KRN Heat Exchanger IPO Contact Details-
KRN HEAT EXCHANGER AND REFRIGERATION LTD.
Lot No. F – 46, 47, 48, 49 EPIP,
RIICO INDUSTRIAL AREA, NEEMRANA, ALWAR
Phone: +91 – 9257025440
Email: cs@krnheatexchanger.com
Website: http://www.krnheatexchanger.com/
KRN HEAT EXCHANGER IPO Registrar.
Pvt Ltd. Bigshare Services
Call: (91-22-6263-8200).
to ipo@bigshareonline.com by email
https://ipo.bigshareonline.com/ipo_status.html is the website.
KRN HEAT EXCHANGER IPO: FAQs
The KRN Heat Exchanger initial public offering (IPO) is a main-board offering of 15,543,000 equity shares with a face value of ₹10, totaling ₹341.95 crores. The share price of the issuance ranges from ₹209 to ₹220. 65 shares is the minimum order quantity.
Dates of the KRN Heat Exchanger Initial Public Offering (IPO) are September 25, 2024, and September 27, 2024.
The KRN Heat Exchanger IPO lot size is 65 shares, and ₹14,300 is the minimum needed.
On Monday, September 30, 2024, the Basis of Allotment for the KRN Heat Exchanger IPO will be finalized. By Tuesday, October 1, 2024, the assigned shares will be credited to your demat account. Verify the allotment status for the KRN Heat Exchanger IPO.
It is not yet known when the KRN Heat Exchanger IPO will be listed on the market. Thursday, October 3, 2024, is the estimated date of KRN Heat Exchanger’s first public offering (IPO).
